2015

Dec 08, 2015 Return to Headlines

Coquitlam Introduces 2016 Budget

by Heather Escaravage |

COQUITLAM, BC, December 7, 2015 – Coquitlam Council has approved the first three readings of the 2016 Five-Year Financial Plan Bylaw.

The 2016 budget seeks to keep property taxes low while meeting the increasing and varying demands of a growing community, along with the increasing responsibilities of municipal government. This year’s increase of 2.27% is the smallest increase since 2005 and the seventh consecutive year of declining increases.

With the increase – as well as through a number of other revenue sources such as Development Cost Charges and gaming revenues – in 2016 Coquitlam will gain numerous additional or improved services, for example:

  • More than $74 million in infrastructure investments including recreation facilities, parkland acquisition, transportation improvements and maintenance and utility projects.
  • Six new members of the Coquitlam RCMP who will be an expansion to the U-CRU or Uniformed Crime Reduction Unit.
  • Enhancements to parks and recreation services such as new washrooms and lighting at Town Centre Park as well as new parks, trails and green spaces improvements and upgrades throughout the entire community.
  • $500,000 from Casino revenues to an Economic Development Reserve Fund aimed at supporting projects and initiatives that create jobs and investment in our community.
  • As well as numerous other initiatives aimed at improving neighbourhoods, customer service, and service delivery.

Additionally, in order to help maintain a competitive advantage in attracting business to Coquitlam, the budget will continue the tax shift between residential and commercial properties. After this year’s shift, the property tax increase will be 2.64% for residential properties, and 1.64% for commercial properties.

For more information on the 2016-2020 Five-Year Financial Plan, visit www.coquitlam.ca/budget.

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Media contact:
Sheena MacLeod
Director, Financial Services
604-927-3031